AI and cryptocurrency: Solana integrates ChatGPT with blockchain

Generative AI and natural language models, which allow humans to interact with computer functions using our normal way of speaking and writing, are making inroads in a variety of industries, especially in the fields of blockchain and cryptocurrency.

There are many applications of AI in blockchain. For example, it can be used to write smart contracts, enhance cybersecurity and manage decentralised marketplaces. Recently, Solana Labs, the company behind the Solana blockchain and SOL token, unveiled a plugin for the popular AI program ChatGPT that enables AI to fetch blockchain data.

Solana Labs’ plugin will let users ask ChatGPT to perform actions on the Solana blockchain, such as checking wallet balances, transferring tokens, retrieving on-chain data, and eventually even purchasing NFTs. According to Solana Labs, these functions will be enabled after OpenAI, the developers of ChatGPT, make plugins available for their chatbot.

As an example, Solana Labs shared a screenshot showing ChatGPT receiving a list of NFTs owned by a certain Solana address, including metadata links to the NFTs.

How does ChatGPT work?

ChatGPT is intended to be a more natural, convenient way to use the internet by engaging with it in much the same way you would talk to another person. The advanced chatbot searches third-party online sources for information that is relevant to the user’s requests but is able to understand more natural questions and communication phrasing than a traditional search engine. Likewise, it can also present information in a conversational, explanatory or formal style in much the same way as an informed person would share what they know with you.

The future of ChatGPT and crypto: OpenAI rolls out privacy features

Solana is a project designed to provide highly scalable blockchain solutions for the development of dApps and smart contracts. It is one of the most promising rivals to Ethereum (ETH), and Solana Labs is evidently focusing on AI to help it be more competitive, as the company recently announced that it would allocate $1 million in funding for projects building AI tools on Solana.

OpenAI also announced new privacy features that make ChatGPT more attractive for crypto activity. Users can now disable their chat history, which makes sure that the chatbot won’t display or use their conversations to facilitate further training of the algorithm. Instead, deleted conversations will be retained for 30 days so that OpenAI can check them for abusive material, after which the conversations will be deleted forever. Another new feature will allow users to download their data to be able to review the information stored by ChatGPT.

The idea that internet users should be able to control their own data is a central concept behind Web3, the next evolution of online platforms that use blockchain technology and digital currencies to free users from the dominion of huge tech giants. The fact that AI tools are developing to be more privacy-conscious and crypto-compatible is a positive sign for the future of Web3 and the crypto industry in general.

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